Partnership2 Jun 2025, 05:34 pm
Torrent Power Ltd Signs 10-Year LNG Supply Agreement with BP Singapore Pte. Limited
AI Summary
Torrent Power Ltd has signed a long-term Sales and Purchase Agreement (SPA) with BP Singapore Pte. Limited, a subsidiary of global integrated energy company bp, for supply of up to 0.41 MMTPA of LNG from 2027 to 2036. The LNG procured under this agreement will be used to operate its 2,730 MW Combined Cycle Gas-Based Power Plants in India, support the Torrent Group’s City Gas Distribution arm’s growing requirement of LNG, and contribute to the Government of India's goal of increasing natural gas’s share in the energy mix to ~15% by 2030. Torrent Power Ltd aims to enhance its portfolio diversity and reliably meet energy supply needs of customers by exploring medium- and long-term LNG procurement.
Key Highlights
- Torrent Power Ltd signs 10-year agreement with BP Singapore Pte. Limited for LNG supply from 2027 to 2036.
- LNG will be used to operate Combined Cycle Gas-Based Power Plants and supply City Gas Distribution arm's growing requirement.
- Agreement aligns with the Government of India's goal of increasing natural gas’s share in the energy mix to ~15% by 2030.
- Torrent Power Ltd explores medium- and long-term LNG procurement to enhance portfolio diversity and meet energy supply needs.